Net Jets to Furlough 500...??? Right...

[CRJFlyer]

I think flight options is the only fractional left..everyone else went outta business this month. Netjets had catostrophic furloughs...But the pilots never found out about them...We still think we are employed...:smash:

 

[amaineiac]

When Richard Branson, the wealthy owner of Virgin Atlantic Airways, was asked how to become a millionaire, he had a quick answer: "There's really nothing to it. Start as a billionaire and then buy an airline."

Fractionals aren't the same as airlines.

I liked and admired Ed Colodny, the company's then-CEO, and I still do. But my analysis of USAir's business was both superficial and wrong. I was so beguiled by the company's long history of profitable operations,

Glasspilot said NetJets never made any money. My point was that WB would not buy a company that never made any money.

 

[X-rated]

is XO Jet out of business yet?

Nice Try. Sorry dude, Not gonna bite.

 

[corpflunkie]

BRK 2Q Report​

http://www.berkshirehathaway.com/qtrly/2ndqtr07.pdf​

Revenues from the other service businesses in the second quarter and first six months of 2007 increased $530 million (35%) and $869 million (32%), respectively, compared to 2006. Pre-tax earnings in the second quarter and first six months increased $74 million (36%) and $152 million (57%), respectively, compared to 2006. These results were primarily due to significantly improved results at NetJets as fractional sales and flight operations revenues for the first six months of 2007 increased $474 million over 2006. Pre-tax earnings of NetJets for the first six months of 2007 were $109 million in 2007 compared to $29 million in 2006. In 2007, operating margins increased reflecting higher aircraft utilization rates as revenue flight hours increased approximately 15%. Also contributing to the improved results of NetJets were the effects of price increases and a change in the mix of aircraft flown. The number of aircraft managed within the NetJets program over the past twelve months increased 15%.​

This breaks down to $80M INCREASE in profit during first 6 months of 2007 compared with 2006.

$55 M Increase for the first Quarter and a $25M increase for the 2nd quarter.

Profit in 2006 stated in the annual report was $143. Doing a little math .. that means profit for the LAST six months of 2006 were $114M.

$114M + $109M = $223M in profit over last 12 months!
__________________

This still doesn't strictly show NetJets financials. "Revenues from the other service businesses" tells me that these numbers include more than one company to include Flightsafety. As a group, those are good numbers. $109m pretax (EBITA) = what net? That is the number no one can seem to find. I am not a hater. If you guys start to really hurt, the rest of us are in deep poop.

 

[pilotyip]

Just got a call from a NJ pilot, looking for a job at USA Jet. He said a letter was coming out in 10 days annoucing up to 1000 pilot lay offs, and he was worried.

 

[shroomwell]

Did you get turned down by NJ, yip? Quit spreading B.S.

 

[Pervis]

Did you get turned down by NJ, yip? Quit spreading B.S.

S--t Stains like that don't even deserve a response.

 

[pilotyip]

Nope, never applied

S--t Stains like that don't even deserve a response.

Only passing along what was told to me by a NJ pilot, he worried. Why is it when reality is dealth with at this site we get the above responses? Oh I forget it is FI.

 

[gunfyter]

This still doesn't strictly show NetJets financials. "Revenues from the other service businesses" tells me that these numbers include more than one company to include Flightsafety. As a group, those are good numbers. $109m pretax (EBITA) = what net? That is the number no one can seem to find. I am not a hater. If you guys start to really hurt, the rest of us are in deep poop.

"... Pre-tax earnings of NetJets for the first six months of 2007 were $109 million in 2007..."

Reading is fundamental....

 

[Midge]

S--t Stains like that don't even deserve a response.

pilotyip=Curr Position: DA-20 Standards Manager

Nuff said.

 

[pilotyip]

pilotyip=Curr Position: DA-20 Standards Manager

Nuff said.

Do you know how hard it is to manage one DA-20 with no full time flight crew? I didn't think so. Someday if things go your way you to can aspire to such a lofty goal

 

[corpflunkie]

"... Pre-tax earnings of NetJets for the first six months of 2007 were $109 million in 2007..."

Reading is fundamental....

That's all well and good. However, if the taxes and such was $110 mil, Ya still lost $1 mil. The net result is the number no one has seen. Just sayin.

 

[CA1900]

That's all well and good. However, if the taxes and such was $110 mil, Ya still lost $1 mil. The net result is the number no one has seen. Just sayin.

How in the world would you pay taxes of $110 million on a $109 million dollar profit?

I know taxes are harsh, but I'm pretty sure they're not over 100% yet.

 

[Pervis]

Only passing along what was told to me by a NJ pilot, he worried. Why is it when reality is dealth with at this site we get the above responses? Oh I forget it is FI.

Here is the reality.

1) The person you spoke with works for Netjets and is pulling your chain knowing you'd bite.

2) The person you spoke with doesn't work for Netjets and is lying out his arse.

3) You are lying out your arse.

No further explanation is necessary.

 

[pilotyip]

None of the above

Here is the reality.

1) The person you spoke with works for Netjets and is pulling your chain knowing you'd bite.

2) The person you spoke with doesn't work for Netjets and is lying out his arse.

3) You are lying out your arse.

No further explanation is necessary.

I would hope I am wrong, but only passing along what I have heard, flaming is not my style. Reality is. such as a college degree has nothing to do with flying an airplane

 

[DO-82 driver]

How about we all just wait until Monday....

Thses discussions do absolutely nothing constructive..... Oh wait!!! Its F.I.... never mind.

 

[captain dad]

I agree Moday will be a more advantageous day, for everyone, to discuss such matters.

 

[DO-82 driver]

I agree Moday will be a more advantageous day, for everyone, to discuss such matters.

...and let discuss it where it belongs, on OUR message board, not here.

 

[captain dad]

...and let discuss it where it belongs, on OUR message board, not here.

Absolutely...agreed.

 

[gunfyter]

...and let discuss it where it belongs, on OUR message board, not here.

Sorry dude ... YIP has a right to know ... because of the Freedom of Flight Information Act.

 

[gutshotdraw]

...and let discuss it where it belongs, on OUR message board, not here.

Still waiting on that password then. Or else we can leave out 10% of the pilot group. This is as good a place as any IMO. The rest of the aviation world will know about it soon enough. I expect there will be something on it in the next AIN anyhow.

 

[pilotyip]

Nive ome

Sorry dude ... YIP has a right to know ... because of the Freedom of Flight Information Act.

Now that is funny

 

[jppt2000]

Still waiting on that password then. Or else we can leave out 10% of the pilot group. This is as good a place as any IMO. The rest of the aviation world will know about it soon enough. I expect there will be something on it in the next AIN anyhow.

IMO, that password you're waiting on along with lots of other great benefits,
costs me and each of the other 90% of the pilot group about 100 to 200 bucks a month.
Hope to see you and the other 10% post there soon

 

[Club ORD FO]

What happens on monday???

 

[cherry20's]

I would hope I am wrong, but only passing along what I have heard, flaming is not my style. Reality is. such as a college degree has nothing to do with flying an airplane

I have to say, Pilotyip really doesn't start BS rumors just to start them (like many other people on here). I have read a lot of things from him in the past few years in the Cargo forum and none of them were ever blatant lies or flames...

Not saying I agree with what he is saying that NJ is going to furlough 1000 pilots, but he usually doesn't lie. Someone probably did actually call him and tell him that...

 

[cherry20's]

is XO Jet out of business yet?

Should have just started your own thread. Would fit in just right with all the other BS threads in here.

Still getting a check last time I checked and haven't made a second round of cuts have we? Must be doing ok so far...

Nice try though

 

[gutshotdraw]

IMO, that password you're waiting on along with lots of other great benefits,
costs me and each of the other 90% of the pilot group about 100 to 200 bucks a month.
Hope to see you and the other 10% post there soon

Cost you money? By my admittedly rough math, the day the balloon goes up for good, NJASAP stands to make about $500,000 per year in additional dues. Shouldn't cost a line pilot a plugged nickel. BTW, since it looks like the Forgotten 47 will stay where they are regardless, I'm ready to bring it on ASAP

 

[imacdog]

Should have just started your own thread. Would fit in just right with all the other BS threads in here.

Still getting a check last time I checked and haven't made a second round of cuts have we? Must be doing ok so far...

Nice try though

Not to change the subject too much but those are bold words coming from a guy who is junior to guys that did get furloughed.

 

[jppt2000]

Cost you money? By my admittedly rough math, the day the balloon goes up for good, NJASAP stands to make about $500,000 per year in additional dues. Shouldn't cost a line pilot a plugged nickel. BTW, since it looks like the Forgotten 47 will stay where they are regardless, I'm ready to bring it on ASAP

Did you mean NJASAP?

 

[netjetwife]

What happens on monday???[/quote

NJASAP and NJA Management have been working together to lessen the impact of the economic downturn and the results of their joint-efforts will be explained on Monday. There are NO furloughs planned at this time and much hard work has been done by the leadership (on both sides) to avoid that. The NJ pilots who can attend the Monday night Union meeting in CMH will have the chance to ask questions then. I bet that Union leaders and Stewards will also answer questions on the NJASAP board.

I recognize that these are difficult times for many aviation families, especially those low on the seniority list, and I wish all of you the best. NJW